Passive Income, Active Wealth - Hard Money for Real Estate Investing

Bill Fairman (00:01): Hi, folks. This is the time of the year that you hate. It's called Setting Your Goals for 2023. We're gonna have more about that right after this. (00:33): Thank you for joining us on the Real Estate Investor channel, hard Money for Real Estate Investors. We are Carolina Capital Management private lenders in the Southeast for real estate professionals. If you have a project you'd like us to take a look at, go to carolina hard money.com and click on the Apply Now tab. If you're a passive investor looking for passive returns, go to the accredited Investor tab. Oh, and you must click it as well. Don't forget the like, share. So subscribe. Hit the bell, sit there and look at it. Wendy Sweet (01:36): (01:59): Bill Fairman (02:01): So tell us about it. How'd it go? Wendy Sweet (02:04): It was a great, it, the whole event was incredible, but the panel was terrific. I was just so honored to be with the two panelists that I was on there with, that their, their brains are incredible. What was really cool is that were all three lenders and we all three underwrite a little bit differently. And, and that's really what we talked about were the, the different things that we look at. So you can still buy a recording from that event, so it's worth it. If, if you do that, it's well worth it. Bill Fairman (02:40): Is there a URL that you know of where people can Wendy Sweet (02:43): I'm sure there is one, but No, I don't know of it. But if you get on Quest Con Live 2022 on the, of course the internet Googles it, as we say. Well, Bill Fairman (02:56): I'm, I'm pretty sure it'll materialize Jonathan Davis (02:58): In our comment section. Wendy Sweet (03:00): That's exactly right. Bill Fairman (03:11): I said sweet. Yeah, Wendy Sweet (03:12): That's Bill Fairman (03:13): Me, Wendy Sweet (03:13): Not you. Sweet Bill Fairman (03:23): Tropical, tropical Wendy Sweet (03:24): Plant. Sure. Yeah. It's cold here. Jonathan Davis (03:27): It was, it was really tough to set out there this morning. Wendy Sweet (03:32): I feel bad for you Jonathan Davis (03:32): Guys barefoot while, you know, the sun, you know, was just beaming over the water. Wendy Sweet (03:38): Just amazing how you guys constantly just take it for the team. Bill Fairman (03:41): Wendy Sweet (03:42): Bill Fairman (03:42): Those who don't know, we're in Fort Lauderdale at the family office event. Yeah. It's called the Family Office Club. There's ultra high net worth individuals office here. Yeah. there's institutional investors as well as people that are trying to raise capital and people who are trying to deploy it. Jonathan Davis (04:01): One of the great things, if, if you are interested in learning how to talk to or approach family offices, this is a great event because there's many panels with the, the managing partners of those family offices, setting there, telling you what they're looking for and how they look at things. So it can give you an insight into how to approach a family office, which is, which is is a great resource for a lot of people when you're looking f to, you know, a little bit more than buying or selling one or two loans, you know, kind of scaling. Bill Fairman (04:35): Yeah. Quick tip. One pager and a one liner on what you do. They don't wanna see a whole blown out email your slide deck and all that. They're not gonna look at it to get inundated with stuff. Wendy Sweet (04:46): Awesome. To explain just for a quick second, what a family office is, because many people may not know. Jonathan Davis (04:53): Yeah. Family office is just it's a aggregation of family a family or multiple families. and they typically have a minimum of 10 million net worth. Wendy Sweet (05:07): well jump change. Jonathan Davis (05:08): Most of them are probably closer to the a hundred million plus smart, but minimum of 10 million to kind of make the...

Bill Fairman (00:01): Greetings, everyone. We are live. Thank you for joining us. Wendy will not be with us today. She is currently at, I don't know, 30,000 feet on, on an airplane. So we're gonna talk about the year end review, even though the year isn't over with yet, but I don't know what much more will transpire between now and the first. So we're gonna, I'm do a, I'm, we're in a review today and we'll get to that right after. It's funny, that graphic we're showing the, the passive income gang. Yeah. With all the money flying. I'm going, that looks kinda active to me. Jonathan Davis (00:59): He makes so much money passively, he just actively throws it away. Is that what Yeah, I guess that's Bill Fairman (01:03): The, so by the way, welcome to the show. We are what is the name of the show? I keep forgetting? It's real estate. Real Estate Investor Show Hard Money for real estate investors. We are Carolina Capital Management private lenders in the Southeast for real estate professionals. If you have a project that you would like us to take a look at, please go to carolina hard money.com. Click on the apply now tab. If you're a passive investor looking for passive returns, we have a place for you as well. Click on the accredited investor tab. Don't forget to like, share, subscribe, hit the bell. And don't forget about Wednesdays with Wendy, since this is Thursday. She's not here. Jonathan Davis (02:07): Yeah. She's usually a month or two out. Yeah. Bill Fairman (02:09): Yeah. Take advantage of it. Jonathan Davis (02:11): Mm-Hmm. Bill Fairman (02:18): First Jonathan Davis (02:18): Yeah. Bill Fairman (02:29): I always like freaking out our production group. Jonathan Davis (02:31): I love that. Yeah. I mean, we'll, we'll get to the, we'll get to the breaking news in a second. But yeah, I mean, just kind of a, an over overarching cap. Like we Bill Fairman (02:39): Had a lot Jonathan Davis (02:39): Going on this year has been Wow. It's just, you know, Bill Fairman (02:44): Yes. Jonathan Davis (02:45): Not to, you know, the same, the same investor loan that would've captured over 4.1% in January is capturing an 8.7% rate in December. I mean, it's, that's a big swing. Bill Fairman (02:58): Yeah. And if you're, you know, if you bought a piece of property and before you get it finished and then the numbers don't work out for you mm-hmm. Jonathan Davis (03:10): Yeah. I mean, I think the, you know, if you, you know, $400,000 investment in house, you know, typically, you know, you need about $1,800 of rental income at a three and a half percent rate to cover it. And with the rates jumping where they are, and now you need $2,700 in rents to cover the, the payment Yeah. Rents while increasing didn't increase that much. Right. Bill Fairman (03:34): And they will eventually. But, but do, do you wanna lose money until then? No, you always have to have cash. It has to cash. Even if it's only $200 a month. Jonathan Davis (03:48): Even if it's only $50. I mean something, you know, 200 is better than 50, but Yeah. Don't have a negative cash flow. Yeah. Bill Fairman (03:55): But like I said, in the long run the rents will eventually outpace. Mm-Hmm. And then, you know, at some point rates should come down and then you can refinance and improve that. Jonathan Davis (04:09): I love the certainty of the wood. Should Bill Fairman (04:16): Don't shit all over me. It's nice. All right. But before we get to this year end review we have a little bit of breaking news. I a little, oh, the corner. You guys can't see it from here, but we got an emoji of Oh my gosh. What are you talking about, Jonathan Davis (04:46): Bill Fairman (05:07): That's not even close to normal, Jonathan Davis (05:08): Not even, but for the last five years, that is the lowest days on market for the last five years. Bill Fairman (05:18): Is that nationally? Jonathan Davis (05:19): Yes....

Your 2022 In Review! Visit our website: https://www.CarolinaHardMoney.com Join Bill Fairman, Wendy Sweet, and Jonathan Davis, LIVE! every Thursday at 12 pm ET for the Real Estate Investor Show - Hard Money For Real Estate Investors! As 2022 is nearing its end, the Carolina Capital Management team takes a look back at the relevant real estate events that occurred this year. What have you learned and accomplished this year? What are the preparations you need to look out for in order to survive the ever-unpredictable real estate market? Be up to date, be informed. Be educated. Learn the numbers and data. Discover the best niches of the real estate business where you should invest.

Today's Market and the Non-QM Loan Join the Carolina Capital Management team LIVE every Thursday at 12 pm ET for the Real Estate Investor Show - Hard Money For Real Estate Investors! This week, Bill Fairman, Wendy Sweet, and Jonathan Davis are joined by Bryan Maddex of AmeriFirst Home Mortgage to discuss Non-Qualified Mortgage Loans! With over 20 years in the financial industry, Bryan used his experience and insight to help get financing and loan products for his clients, many of whom are first-time homebuyers and real estate investors. One of his top priorities is providing consistent and frequent communication. His team ensures that the buyer knows exactly where they are in the mortgage process, as well as their agent and listing agent. Amerifirst works with many clients who have not been successful in getting loan approvals from other lenders. They take the time to educate their clients on overcoming prior obstacles to achieve success as they navigate the steps to homeownership, including the pre-approval process. It is not unusual for Bryan to work with his customers for a year or more to help them get their credit mortgage ready, and for him, it is especially gratifying to share in his client's joy on closing day. Amerifirst offers a full line of flexible loan products including FHA, VA, USDA Rural Development, renovation, and conventional mortgages. They also offer a range of non-traditional products such as Investor Cash Flow Loans and Bank Statement Loans. Bryan is proud that his Amerifirst team includes his wife, father, and brother, and they feel truly blessed to be able to serve their clients as a family.

Join Bill Fairman, Wendy Sweet, and Jonathan Davis LIVE! every Thursday at 12:00 PM ET for the Real Estate Investor Show - Hard Money For Real Estate Investors! Brett Sims, the Head of Growth of Renovo Financial, joins the Carolina Capital Management team to talk about the current market updates, especially the DSCR loans. Renovo Financial: Their story begins in 2011, at the Starbucks on Sheffield and Armitage in Chicago’s Lincoln Park neighborhood. It’s here where Co-Founders Kevin Werner and Daniel Rosen met to discuss founding a new real estate investment company. But this company would be different. They wouldn’t simply throw money at clients and expect them to figure out the rest. No, they would take the time to assist their clients through the entire process, never sacrificing service to make a quick buck. With the help of Granite Creek Capital Partners, the initial equity firm that back Kevin and Daniel, they were ready to start growing their new company, Renovo Financial. With support from Granite Creek and caffeine in their system, Kevin and Daniel began slowly and carefully lending in Chicago and building their team of rockstar real estate lenders. For the first five or six years, they focused solely on the city of Chicago. Today, however, Renovo is rapidly expanding across the country with local lenders in more than 10 markets stretching from San Diego to Boston.

00:00:01 Greetings, everyone. Welcome to the show. We are going to talk about capital raising and why it's important to your deals right after this. Wendy Sweet 00:00:34 That's funny. That's like a so funny when you see people on the news doing a news set and they say something and they just wait for stuff to happen and they wait for stuff to happen, it's, Bill Fairman 00:00:45 Well, just so you guys know, half of our, our crew is in another country, so it's occasionally there. Wendy Sweet 00:00:52 Two different countries. Bill Fairman 00:00:53 Yeah. There, there's occasionally a little bit of lag time when we talk. So that's, that's really it. Wendy Sweet 00:01:00 So the whole show's coming from three different countries. That's true. Actually. That's pretty Bill Fairman 00:01:03 Cool. And technology amazing. It anyway is, thank you so much for joining us on the Real Estate Investor Show Hard Money for Real Estate Investors. We are Carolina Capital Management and we are private lenders for real estate investors in the Southeast. If you'd like us to take a look at one of your projects, go to carolina hard money.com and click on the apply now tab. If you're a passive investor looking for passive returns, then click on the accredited investor tab. Don't forget the like, share, subscribe, Hit the bell. And don't forget about Wednesdays with her. Wendy Sweet 00:01:38 Woohoo. Awesome. Bill Fairman 00:01:46 Wendy devotes like 30 minutes per person, right? Wendy Sweet 00:01:50 Yep. Bill Fairman 00:01:51 Every Wednesday, but she's booked out a couple of months in advance, so get on her calendar Wendy Sweet 00:01:57 That, And I actually got this idea from our guest that's coming on. Bill Fairman 00:02:01 That's right. It was Tuesdays with Jeff, Wendy Sweet 00:02:05 Whatever, whatever day anybody could get in with Jeff that, that's the big thing. Bill Fairman 00:02:09 So, So anyway, the link is right there and also in our comment section, which is on the right side of your screen or underneath, depending on the platform you're viewing us from. Anything else to add? Wendy Sweet 00:02:21 Well, I just want to say this, you know, we always talk about, you know, if you're interested in passive investing to go in and, and click on our pass our investor tab. But I, we've got some bragging rights. We've, we've had, we've had a phenomenal year. Our trailing 36 month is really good, but I, I mean our, our last quarter we were at 10.76 Bill Fairman 00:02:46 And this is not a solicitation for selling of any type of security. Do your due diligence, your mileage may vary, blah, blah, blah Wendy Sweet 00:02:56 Ppm. Yes, it's very important to do that. But we need to, I mean we need to talk that, cuz it's been, it's been really great. It's been over, well over 10 for the Bill Fairman 00:03:04 Year. The, the real estate business. While it sounds like it's really going downhill, if you listen to the news, it's still way outperforming the Wendy Sweet 00:03:13 Stock market and it's adjusting to normal. Yeah. Which is really nice. We, we all need a little normal. Bill Fairman 00:03:19 All right, real quick, some breaking news. Good Lord. Wendy Sweet 00:03:42 It, So now the news isn't breaking anymore. It's, it's old already. Bill Fairman 00:03:46 It's, it's old news now. So the Fed raised the rate another 75 basis points. Wendy Sweet 00:03:55 That's right. Bill Fairman 00:03:56 It's like there's, it's like 3% height now since they started, or at least close to it. Wendy Sweet 00:04:02 I can't wait to hear Brian Maddox talk about it tomorrow on our sunrises meeting that we have every Friday morning at 7:30 AM Bill Fairman 00:04:10 Yeah. And I'm sure we'll have a link to that over here in the comment section Wendy Sweet 00:04:13 As well. Yeah, yeah. It's, we, we'll talk in depth about that. That's, that's good stuff. Bill...

Bill Fairman 00:00:02 Greetings. It's another week, Wendy Sweet 00:00:05 Ola. Bill Fairman 00:00:06 Lovely time in the, in the city. The big, big city of Rock Hill. South's, right? Carolina, Excuse me. Wendy Sweet 00:00:12 Poor guy. Bill Fairman 00:00:14 Today we're going to talk about investing with family and friends, and we will get to it right after this. Hello win. Thank you for joining us for another episode of Real Estate Investors Show. Wendy Sweet 00:00:45 We forgot the name again. That's what happens when you're over Bill Fairman 00:00:48 Hard money for real estate investors, we are Carolina Capital Management. We are private lenders in the southeast for real estate professionals. If you have a project you would like us to look at, please go to carolina hard money.com and click on the Apply Now tab. If you are a passive investor looking for passive returns, go to the accredited investor tab. Don't forget the like, share, subscribe, Hit the bell. And don't forget about Wednesdays with Wendy. So every Wednesday, Wendy gives up 30 minutes of her time to folks that would like to have a real estate conversation. The link to her calendar is over in the chat, which is to the right or underneath your screen, depending on the platform you're viewing us from. She's usually booked up a couple of months in advance, so get on now. Wendy Sweet 00:01:50 Sometimes I just come into the office. Yeah, well that's what happened yesterday. It was awesome. Bill Fairman 00:01:56 So apparently since I don't allow people to talk here much, Wendy has to go out of town to do most of her talking. So we have a few events coming up right after this. Wendy Sweet 00:02:15 Boy, that was quick. Yeah, it's short, Short and sweet. Bill Fairman 00:02:17 So where, where is it? Where are you going? What are Wendy Sweet 00:02:20 You doing? Where's Waldo or where's Wendy? That should be it. Right? So the, I think the first one is actually this Saturday Best Her love that name. It's a great, it really, really is her, how you spell her. That's right. And it's in no confidence in spelling that one on, on the tv. It's, it's gonna be this, they're, they're actually having the event this Friday and Saturday, which is what's, what's the weekend this 29th and 30th? Yeah. Bill Fairman 00:02:51 Yeah. It'd be this weekend Wendy Sweet 00:02:52 Or maybe it's the following weekend. 29th and 30th is this Bill Fairman 00:02:56 Weekend. Halloween is on Monday, correct. Wendy Sweet 00:02:57 Oh gosh. You know what? I forget the days. I, it is the following weekend. Jonathan Davis 00:03:00 We've really prepared for these shows. Wendy Sweet 00:03:02 I have to look at my calendar. I'm sorry. But anyway, it's, it's gonna be really good. It's, it's, it's, it's for invest her, it's for the chicks, but the guys can show up too, cuz you'll be able to learn great stuff. And that's gonna be in Winston Salem. Bill Fairman 00:03:16 You pointing at me personally? Wendy Sweet 00:03:18 Yeah. And then the next one is Bill Fairman 00:03:26 Quest Con. Wendy Sweet 00:03:27 Yeah, Quest Con. So we love Quest Iron Bill Fairman 00:03:30 And this is about the future. So you have to have your crystal ball. Wendy Sweet 00:03:33 That's right. And here's an opportunity for you to save $15 on the event. It is online. They call it a live event because it's gonna be on Zoom Live, but you will be able to get a discounted ticket to get on there. It's, it's gonna be great if you attended the Quest event that just occurred, you know, what was it? A couple, maybe a month ago? Yeah, it was fantastic. Great group of people. Almost a thousand people were there. Yeah, the speaking was incredible and it's gonna be similar to that but online. So I'm really looking forward to it. I don't think they've done one similar to this one. I Bill Fairman 00:04:13 Still want it to be all about me. Wendy...

Bill Fairman 00:00:01 Hi everyone. We're right on time as usual. Sorry about that. Mike. Thanks for hanging around for an extra minute. Our theme this month has been Small dollar lending, raising capital, and investing with family and friends. Yep. And we are going to get in depth with our special guest who's going to give us some insights into her. What is it? What are we talking about today? Jonathan Davis 00:00:32 Small dollar lending. Lending with smaller amounts. Bill Fairman 00:00:35 And we'll do that right after this. Hi everyone. Thank you so much for joining us on The Real Estate Investor Show Hard Money for Real Estate Investors. We are Carolina Capital Management and we are private lenders in the Southeast for real estate professionals. So if you'd like us to take a look at one of your projects, go to carolina hard money.com and click on the apply now tab. If you're a passive investor looking for passive returns, go to the accredited investor tab. Don't forget share, like, subscribe, hit the bell and all that good stuff. And don't forget about Wednesdays with Wendy. Wow, that was four seconds. Was that four seconds? Yeah, Jonathan Davis 00:01:43 I think it Bill Fairman 00:01:44 Was, It seemed like two and a half. Jonathan Davis 00:01:46 Oh, Bill Fairman 00:01:46 Okay. So Wendy devotes 30 minutes per person on Wednesday afternoons to talk about anything real estate related. If you go to our comments section on the right side of your screen or underneath, depending on the platform you're reviewing us from, then you can click on get right onto her schedule. Yep. She's usually booked a couple of months out in advance. It's well worth it. So let's get into some breaking news, Jonathan Davis 00:02:17 Some breaking news. I like it. Bill Fairman 00:02:32 So England's newest Prime Minister resigned this morning. So this is now six prime ministers, no, four prime ministers in the last six years. Jonathan Davis 00:02:46 So Bill Fairman 00:02:47 That's what I call stable government. Jonathan Davis 00:02:50 Yeah, yeah, absolutely. To, to bring a more, more home are what we're sitting right now at the average 30 year mortgage. It's 6.92 for a full 30 year. I think if you get a five one arm, you're right around 5.9. So we're almost, we're creeping up on 7% inflation staying around that eight to eight and a half percent mark when you take out, you know, fuel and food, cuz apparently those are too volatile. You don't want to include those in the, in the core numbers, you know, but, you know, not like people need food and fuel. So it's sticking around there, which is probably going to lead to at least two more interest rate hikes. This year of anticipation is 75 basis points. Each one. Bill Fairman 00:03:50 It, it's not the rate that really is gonna hurt, it's the how quickly they're, they're going up on these things. Jonathan Davis 00:04:00 Well it's the, it's the, this is the well, and, and so we can have a little, you know, history with this 6.92 is the highest 30 year fixed mortgage rate since 2002. Right? So 20 highest one in 20 years. Our interest or our inflation is, you know, obviously the, you know, the highest in 40 years. So we are, we're, we're navigating some interesting waters. One of the interesting things that I thought, or that I found was through all of this, now we know that, you know, single family homes, the appreciation is were still right around what, eight 9%? Bill Fairman 00:04:40 Yeah. Jonathan Davis 00:04:42 Mobile home appreciation. 35%. Yeah. Nationally. Bill Fairman 00:04:49 Well it is the, one of the most affordable housing alternatives. And so people are turning the mobile homes cuz they can't afford to get into some stick built Jonathan Davis 00:05:00 Homes. Yeah, I think I think the, the average cost of a mobile home now nationally bringing it it's around 1 50, 1 60 is kind of the, which is a lot higher than it...

https://youtu.be/peAAjhtlKxA Bill Fairman 00:00:02 Greetings. Hope everyone is doing well. We are actually live with this show. Maybe you didn't know this, but last week's was not live. It was prerecorded because we were all out of town. So we're going to talk about several things today, being a small dollar lender, investing with family and friends, and raising capital. And we'll get to some examples right after this. Hi everyone. Welcome to the Real Estate Investors, Show Hard Money for real estate investors. We are Carolina Capital Management. We are lenders in the southeast for real estate professionals. If you have a project you'd like us to take a look at, go to carolina hard money.com and click on the apply now tab. If you are a passive investor looking for passive returns, then click on the accredited investor tab. Don't forget to like, share, subscribe. Hit the bell. And don't forget about Wednesdays with Wendy. Bill Fairman 00:01:35 I think this one is so short now that we should just play that twice Next time. Not now. Next time. Yeah. That's funny. So Wendy devotes 30 minutes per person each Wednesday. Talk about anything real estate, there's the link, it will be over in the chat, which on the right side of the page or underneath, depending on the platform that you're viewing us from. And in case you were wondering, yeah, somewhere in the same shirt that's been on this show three times in a row. I don't think anyone was wondering that, however, but way of telling yourself it's very, I'm being very self-conscious about it. Yes, it's been watched. It's a nice shirt. Yeah, you can see the crease. Thank you. Yeah. Anyhow, let's do some breaking news. You man. No. Bill Fairman 00:02:41 So today, very important. CPI numbers came out and that stands for consumer price index. This is the third quarter reading and this determines people that are on fixed income social security on how much they will get raised for next year. Yeah. And it came in at eight point, excuse me, 8.2%. So we have inflation of 8.2% year over a year. The core number for month to month was 0.4%. So it is higher this month than it was last month. You pull out energy and food, which as we all know, that is really the most expensive and the most important. Jonathan Davis 00:03:28 So that is the core. Bill Fairman 00:03:29 It's still 6.2%. I mean that's, that's pretty high. Yeah. So that means everything is going up. So guess what? The stock market didn't really appreciate that this morning and I haven't looked at it before we came on the air today, but we were below 2,900 on the Dow, you know, before I came to work. Yeah. On the, on the future's market. So those folks that were hoping for the Fed to maybe postpone or maybe do a 50 basis points raise in the interest rate, Nope. Be prepared for another 75 basis points. Oh Jonathan Davis 00:04:10 Yeah. Bill Fairman 00:04:10 That's all I can say. Jonathan Davis 00:04:11 It's coming. And yeah, I mean they have stood by, you know, bringing inflation down and as you know, these numbers continue to, to set where they are. If they do what they say they're gonna do, it's, it's gonna be 75 or even, you know, one full, you know, percentage. Bill Fairman 00:04:29 Well, they were too slow to act because they said it was transitory. The rest of us knew it wasn't. Jonathan Davis 00:04:34 Oh gosh. Yeah. Bill Fairman 00:04:36 And then on top of that, you've got our, not just our government, but governments around the world are counteracting what the fed's trying to do. Every time they try to slow stuff down, the government gives out more money and more money. They give out more. It's stimulates activity. And you can't lower inflation if you have an activity being, I mean the whole point of raising rates is to have what we call demand destruction. Jonathan Davis 00:05:09 Yeah. You want, I mean, right now they want to, you know, lower the demand for houses and...

Bill Fairman 00:00:00 Oh, see that. Hey, welcome back. We are going to talk about scaling responsibly. One of the things that we run into is, should you scale in a coming downturn? Absolutely. You have to scale responsibly. We're gonna talk about that right after this. Bill Fairman 00:00:37 Welcome. We're back here with our take two or question 2.0 with Hunter Big to elevate capital. We're gonna talk about scaling responsible respons. Sorry guys, I'm actually out of town right now, so I'm a little sluggish. Let's get started off with a little bit of housekeeping. Thank you so much for joining us on the Real Estate Investor channel, Hard Money for Real Estate Investors. We are Carolina Capital private lenders in the southeast for real estate professionals. If you have a a project you want us to take a look at, go to carolina hard money.com and click on the Apply Now tab. If you are a accredited investor and you're looking for passive returns, click on the accredited investor tab. Don't forget to like, share, subscribe, Hit the bell and don't forget about Wednesdays with Wendy. Wait. Oh wow. That was quick. That was a nice one. Yeah. Yeah. Wendy, excuse me, gives 30 minutes of her time per person on Wednesday afternoons to talk about real estate. There's the link. It will be in the chat side to the right side of the page or underneath, depending on the pro, excuse me, platform you're viewing us from. Jonathan Davis 00:02:03 You good there? Yeah, you got all about It's Bill Fairman 00:02:06 Alright. It's a lot of loans. Jonathan Davis 00:02:07 It's alright. But yeah, no, Wednesdays Wendy's a great thing. If you want to join on the calendar link, you can do that. You will get something from it. I guarantee you. She has a lot of experience and she will tell you she's made a lot of mistakes. So learn from her mistakes. Bill Fairman 00:02:24 And before we get started, I wanted to mention the Quest Expo was awesome. If you, you guys didn't get a chance to go, I think you can still purchase the videos from all the speakers that were there. It was excellent event. I think there were over almost 900 people, I Jonathan Davis 00:02:44 Think 857? Bill Fairman 00:02:45 Yeah. Yeah. Okay. Well that's close enough to nine. Yeah. Thanks for being so exact. Jonathan Davis 00:02:49 It's my job. It's his job. Yeah. Bill Fairman 00:02:52 But there was great information. Excuse me, If you have a self-directed ira or if you don't know what a self-directed IRA is, then there's plenty of implication for that. If you want to go to quest trust.com, all the information is free, so check it out. Jonathan Davis 00:03:11 Excellent. So we wanna talk about scaling or responsibly. Yes. And what the heck does that even mean? Bill Fairman 00:03:19 Well, it means getting either bigger or we're Okay. I promise I wouldn't say this, but it's about cleaning your fish. Jonathan Davis 00:03:28 No bad joke. Yeah, yeah, yeah. But no. So we have Hunter on here with Elevate Capital and since February of 2018, him and his partners have been investing into multifamily in primarily North Carolina. Hunter Bick 00:03:44 Oh, actually all North Carolina. All Jonathan Davis 00:03:46 North Carolina. Okay. Hunter Bick 00:03:46 We looked elsewhere, but Jonathan Davis 00:03:47 Yeah, you like North Carolina. So they have went from zero doors to several hundred in that time, you know, timeframe. Hunter Bick 00:03:57 500 ish. Jonathan Davis 00:03:58 500 ish. It was more, But you just sold 120, didn't you? We did, yeah. Yeah. So they were over 600. So they have scaled in that time period from Jan, from February of 2018 to now on several hundred doors. And to kind of wanna just pick your brain on, what was your thought process like? You know, when you were looking at this, what, like, did, did it feel too much, too little or kind of how, how did you look at adding to your portfolio? Hunter...

https://youtu.be/YmfjzV0YiwI Bill Fairman 00:00:01 Not this time. Oh, we're on now. What a surprise. So there's been a lot of discussion about how to get into markets that are not overpriced. So we're gonna do a show today about finding emerging markets, and you will get that information right after this. Bill Fairman 00:00:44 Good afternoon everyone. It's Bill and Jonathan and or special guest hunter. But we were, we were gonna tease him in, but too bad he's already here. Thank you again for, well, not again, but thank you this time for joining us on the Real Estate Investor, Show Hard Money for Real Estate Investors. We are Carolina Capital Management. We are a private lender for real estate professionals in the Southeast. If you have a project you'd like us to take a look at, please go to carolina hard money.com and click on the apply Now tab. If you're a passive investor looking for passive returns, click on the accredited investor tab. Don't forget to like, share, subscribe, hit the bell, all that good stuff. Excellent. And don't forget, Hey, Brian. What? Oh, Wendy. Wendy. Don't forget about Wednesdays with Wendy. She, and yes, I will talk right through the graphics. Anyway, Wendy devotes 30 minutes per person on Wednesdays that wants to talk anything about real estate. So there's her link. It will also be on the comments and chat section on the right side or underneath, depending on the platform that you are viewing us from. She usually gets booked out about two months in advance. So book your spot now Jonathan Davis 00:02:16 For everyone out there wondering. I'm six foot two hunter's, just seven foot. Bill Fairman 00:02:24 Yeah, I'm Jonathan Davis 00:02:25 Just sure. I'm trying to keep my head in the Bill Fairman 00:02:26 Frame for you. I can go ahead and admit that I'm vertically challenged. Oh, that I don't have an issue with that. No. So yes, we have our, our guest Hunter B he is with Elevate Capital. We have what about a three year history? Guess? 4, 4, 4 Jonathan Davis 00:02:45 And a half. Four and a half year history. Bill Fairman 00:02:47 It's a great story. We're gonna let him tell it instead of me or Jonathan tell Jonathan Davis 00:02:52 It. Yeah. And before he tells that, I just wanna get some quick information in for everyone. Just want, this was some data that we have that will kind of lead into what Hunter's gonna talk about, but also about the emerging markets. We are, this is what, the third month in a row where we've seen rents slow, but they are still rising. Charlotte is kind of, I think in the top seven on still rent increases, which is 11.5% year over year. The median rent in Charlotte right now is almost $1,800. And if you've followed the show, you also know that the median house payment for a mortgage is 18, 18 50. So they're, they're right there with each other, which is, you Bill Fairman 00:03:49 Know, that means there's room to grow. Jonathan Davis 00:03:50 I suppose so. I suppose so. So we're also seeing, give me a second. Bill Fairman 00:03:57 No issues. Jonathan Davis 00:03:58 We're also seeing a slow down and starts on single families and a slow down and starts on multifamily. However, construction that is in process is up on multifamily by 27% and up on single family still by 4%. So we're still seeing, you know, there's still growth, but we're next, you know, Hunter and I were talking a little offline a little earlier, and you know, as the next month and, and two months comes in, we're gonna see that decline and that slowing down hit even harder and boasted because of the interest rates. Supply chains, picking up lumber, you know, as we were talking about earlier, as, you know, back to pre pandemic levels, which is good. So also if the, if you're in the way of the hurricane, we're very sorry. I think, Bill, did you lose a home? Bill Fairman 00:04:51 Well, yeah, that's what I was gonna jump in into before we got too,...

Bill Fairman 00:00:02 Hello, everyone. Welcome to the show. Our whole theme. This month has been about financial freedom and we are going to discuss this, to discuss what financial freedom is for each of us, Jonathan, Wendy, and myself, right after this greetings everyone. Bill Wendy, Jonathan. We are Carolina capital management. And thank you so much for joining us on the real estate investor show hard moneyed, real estate investors. What Wendy Sweet 00:00:48 We've been running up the steps. You can't get your breath. Bill Fairman 00:00:51 We have been running around a lot. We're getting Wendy Sweet 00:00:52 Ready to leave Bill Fairman 00:00:54 For the quest expo. So we're trying to put all our stuff together. So where was I? Who Wendy Sweet 00:01:00 Are we and where, what we do? Bill Fairman 00:01:01 We are here, Carolina, capital management. We are lenders in the Southeast for real estate professionals. So if you have a project that you would like us to take a look at, go to Carolina, hardman.com and click on the apply. Now tab, if you are a passive investor, looking for passive returns, click on the accredited investor tab and get all the information you want there. We would also like for you to like share subscribe, Wendy Sweet 00:01:27 Tell all your friends, hit the bell, the bell liking the bell. Bill Fairman 00:01:31 Anything else? Wendy Sweet 00:01:31 That's it Wednesdays with Wendy? Yeah. Yeah. Bill Fairman 00:01:33 Nope. Nope. Not yet. We have a question and answer thingy on the side or underneath. Oh yeah. If you'd like to talk to us during the show and after the show and leave wonderful comments. Wendy Sweet 00:01:46 Cause we do monitor it bad ones and we answer questions. So it's yes we do. Yeah. Bill Fairman 00:01:52 Oh, excuse me. Don't forget about when. Wendy Sweet 00:01:56 Yeah. Now he says, now you're good. That was Bill Fairman 00:02:09 Cool. We won't go there. But that was a neat little graphic. Wasn't it? Yeah, it was, it was, as I was saying earlier, we're on our way to Wendy Sweet 00:02:19 Questex quest Bill Fairman 00:02:20 Quest expo. Wendy Sweet 00:02:22 Yeah. Which is in Houston, right? Bill Fairman 00:02:25 Yes. I was waiting for the final quest expo graphics. Wendy Sweet 00:02:31 So ETT Smith will be there. I'm excited about that. I really like him. He's he's pretty awesome. Bill Fairman 00:02:36 Yeah. I got to meet him about five years ago at another conference. He's been, I'm not about that. He a real estate investor for many, many years. So he's not just there because he is a pretty Wendy Sweet 00:02:44 Face. He's not just a pretty face. He's a smart guy too. That's Bill Fairman 00:02:47 Awesome. By the way, the Wednesdays with Wendy, you can get on her calendar because she's usually booked up a couple of months in advance and it's gonna be over there in the comment section. So just click it on and get on our calendar there. Yeah. Yeah. So if you haven't got your tickets yet for quest expo, I'm sure you can get 'em at it. It's Wendy Sweet 00:03:08 Not too Bill Fairman 00:03:08 Late at, at a discount with using our code. Yeah. But your airplane, ticket's probably gonna be pretty expensive. Wendy Sweet 00:03:15 Yeah. Unless you're already in Houston because for Bill Fairman 00:03:17 Close by. Yeah. Or you could drive there. Yeah. All right. So let's get the breaking news. Wendy Sweet 00:03:44 The, the sky is falling. Bill Fairman 00:03:45 How many of you have surround sound on your device that you're listening to us? Rob? Jonathan Davis 00:03:50 I was gonna say, you know, Wendy Sweet 00:03:51 The sky is falling. Stocks are falling. Jonathan Davis 00:03:53 The, the fed raises are up the fed raised at 75 bases points. Volker is proud. Vulgar is gives the chairman from the early eighties. Wendy Sweet 00:04:08 Voker yeah. Bill...

Bill Fairman 00:00:00 I don't even see it up there. Oh, hi folks, bill Fairman here. We are going to talk about what freedom financial freedom actually means to you right after this greetings from the grand downtown rock hill, South Carolina. Woohoo. We are Carolina capital management. Thank you so much for joining us on the real estate investor show hard money for real estate investors. Wendy reminds me. I have to smile. Wendy Sweet 00:00:57 You can do it. You can talk. At the same time. Bill Fairman 00:01:00 We are Carolina capital management. We are private lenders in the Southeast for real estate professionals. And if you have a project that you would like us to take a look at good Carolina, hard money.com, click on the apply. Now tab. If you are a passive investor looking for passive returns, then click on the accredited investor tab. Don't forget to like share subscribe, hit the bell. And don't forget about Wednesdays with Wendy. Wow. That Wendy Sweet 00:01:35 Was cool. And short and sweet. And it matched my junior high school school colors. That's Bill Fairman 00:01:40 Right. Very nice. So Wendy donates 30 minutes of her day per person on Wednesdays to talking about real estate. She's usually booked up a couple of months in advance. So there's the link. It will be over in the comments and questions side, which is either gonna be on the right hand side of your screen or underneath, depending on the platform that you are viewing us from. Well, since we teased it last week, this show is recorded. Wendy Sweet 00:02:08 That's Bill Fairman 00:02:08 Right. So we don't have any breaking news because that would've been last week's news. Wendy Sweet 00:02:12 That's right. We don't know. We can't see into the future. Although sometimes we claim that we do, but we really can't. Jonathan Davis 00:02:18 I mean, when it works out, you have any Bill Fairman 00:02:19 Additional commentary you'd like to add for the fake breaking news for Jonathan Davis 00:02:23 The fake breaking news. Wendy Sweet 00:02:24 Yeah. Jonathan Davis 00:02:26 No, but no breaking news, but you know, we are, we, we would where we're at, like the first month in 17 months where homes are selling under asking price. Oh Bill Fairman 00:02:38 Nice. Wendy Sweet 00:02:38 Yeah. Yeah. That's so amazing. Jonathan Davis 00:02:39 The first time is 17 months homes are now selling under asking price. Bill Fairman 00:02:43 It must be a crash. Jonathan Davis 00:02:45 That's what they would have you believe. Yeah. Bill Fairman 00:02:47 Do you remember back in the day when people actually negotiated price? Jonathan Davis 00:02:52 No one knows what negotiation means anymore. Wendy Sweet 00:02:54 Well, we do now and that's, you know, that's something that investors really need to, especially wholesalers. And rehabers really need to understand that because if you're using cops from six months ago, they're not real, are they? They're real. They're just not relevant. Yeah, that's right. You need to use the ones from, from very, very, you know, past 30 days or less, or from the future, you know, Jonathan Davis 00:03:15 You can do that, Wendy Sweet 00:03:17 Which is what we do Bill Fairman 00:03:19 Kind of our point here is that you don't wanna hear, you don't wanna listen to the noise. The noise is just that it's noise. We were not in a normal market. We haven't been in a normal market and several years. Yeah. It has been crazy out there. And all we're doing is we're coming back Wendy Sweet 00:03:34 To reality, Bill Fairman 00:03:35 To a normal market. And we're still above the, the normal market. Yeah. Yes. I mean, we really need 60 to 90 days on market for homes and we still don't have that yet. Jonathan Davis 00:03:46 I mean, the, the average home value, I think is like 3 75 now, which is way more than it was two years ago. Yeah. Bill...

Bill Fairman 00:00:01 Hi folks greetings today. We're gonna talk about your burn rate. What's important about it. Does it change over time? We will get that and more with our special guest, Dr. David Phelps, right after this Wendy's Hasling me because I wasn't smiling enough. So I'm just gonna talk like this, the rest of the way. Greetings. I am bill Fairman Wendy sweet in the middle and Jonathan Davis, over there to the left. We are Carolina capital management. And thank you so much for joining us on the real estate investor show hard money for real estate investors. Like I said, we are Carolina capital management. We are a private lender in the Southeast for real estate professionals. Wendy Sweet 00:01:04 If you're unprofessional, won't, don't call us. Bill Fairman 00:01:07 If, if you'd like us to take a look at one of your projects, go to Carolina, hard money.com and click on the apply. Now tab, if you're a passive investor, looking for passive returns, click on the accredited investor tab, don't forget to like share, subscribe and hit the bell. And don't forget about Wednesdays with Wendy, Wendy donates 30 minutes per person on Wednesdays to talk about anything real estate related or faith. If you'd like to discuss faith, she's really good about that. She only makes fun of you sometimes. Just kidding. She's always booked up though. So here's the link to get on her calendar. Wendy Sweet 00:01:58 Awesome. And what was really cool? The last Wednesday happened to fall on a couple months previous, I had done a special talking event with some of the kids from freedom founders. Oh cool. And I'm saying this cuz of course David is with us today and my calls all last Wednesday was all freedom. Founder, children of freedom, founder people. It was really cool. Bill Fairman 00:02:24 Nice. Yeah. Well we do have a question and comment section on the right hand side of your screen or the bottom, depending on the platform you're viewing us from, you can also get all the links that we're sharing over there as well. So we have, we don't have any, there's nothing breaking this week, right? Wendy Sweet 00:02:43 Broken. We had a little Jonathan Davis 00:02:44 Bit of commentary in before we go into the burner. Yeah. Bill Fairman 00:02:48 Okay. Well, in that case, I'm gonna surprise SHA cuz I said we had, no, Wendy Sweet 00:02:53 You should ask your cohos breaking Bill Fairman 00:02:55 News. So I'm gonna say I'm giving I'm talking over longer so she can have plenty of time to queue up the breaking news. When will it end? I feel like I'm on a mission and possible said anyway that awesome. Thank you SHA for jumping right in there and taking over. So yeah, Jonathan Davis 00:03:35 Well we're, we're gonna talk about burn Ray, which we're gonna let Dr. David Phillips explain exactly what that is, but kind of to build into that, you know, just last month we received reports that consumer spending and consumer debt rather is a lot higher than it has been in fact way higher in, in 20 years. Yeah. People Bill Fairman 00:03:56 Living off their credit card. Jonathan Davis 00:03:57 Yeah. Well that's, that's the thing. It, I think year over year rose a hundred billion dollars in credit card usage. Wow. A hundred billion dollars. So that is more people stacking up consumer debt and we can let Dr. David Phelps tell you how that'll affect your burn rate. Also we're seeing, you know, slowing down in the appreciation of homes, we're continu, I think we're four or six, four to six months of continual slow slowing down in that, which is good. We needed it. It's getting to normal. It's down to 18 now. Yeah. Woo. That's great. Down to 18, you're seeing more, you know, more inventory lingering on the market. Hopefully, you know, people will lower prices and we can start moving things and get a little bit back to normal, whatever that means for the time period that we're in. The only thing that is still...

Jonathan Davis 00:00:01 Hi everyone today we're discussing risk mitigation. And what are some of the risks that you may not be thinking about while investing right after this? Jonathan Davis 00:00:35 So I'm stepping in for a bill today. He usually gets through the, the whole intro, but just, you know, bear with me here we are. This is the real estate investor show. We are Carolina capital management. We are investors and lenders for the real estate space. In the Southeast. We are private lenders for real estate professionals. And if you would like to invest into real estate or get a loan, go to Carolina, hard money.com and click on the apply. Now tab, we also have a fund for credited investors. So if you are interested in receiving passive returns and getting outsized passive returns, then go to the accredited investor tab. Don't forget to like share, subscribe and hit the bail. And then also Wednesday with Wendy, Wendy Sweet 00:01:42 They Jonathan Davis 00:01:43 Were quick. I like it. Yeah. I know Wednesday with Wendy, Wendy donates all of her Wednesdays to help you in anything to do with real estate or business. She's a great resource. She's booked out usually several months in advance, but go ahead and it's a Calendarly or it's a HubSpot meet up. There you go. Just click on that link and you can schedule a time to talk with her and, you know, just kind of dive into everything that is business and real estate. Wendy Sweet 00:02:10 You know, what was really cool this past Wednesday, which was yesterday as far far as I know, I do five calls a day and all five calls were faith-based. You know, how do you balance your business and your relationship with Christ? It was majorly cool that all five people, that was their intention. So it was kind of a Jesus best. It was neat. Jonathan Davis 00:02:37 That's awesome. That is awesome. Quick though. Before we bring on our guest today, I do want to just some quick news, Wendy Sweet 00:03:08 We're giving CNN a run for their money. Aren't we, Jonathan Davis 00:03:12 I know right before I get into the news, I just have to say how concise and moving forward this show seems to be compared to bill. Wendy Sweet 00:03:24 What do you mean? Jonathan Davis 00:03:25 Yeah, no. So, so I, I do wanna discuss a couple things. The first being, you know, mortgage applications, mortgage originations, the volume of mortgage is at a 22 year low, not, you know, anything groundbreaking. We know that when the rates have, you know, doubled in the last, you know, year and you know, housing prices haven't really come down. Yeah. It's, it's hard to afford a house and volumes will go down. So that's not terribly surprising, but it is a 22 year low. The other piece is BlackRock, I believe has just now finalized their 30 billion fund to take advantage of the upcoming months and years of what they anticipate to be a lot of opportunity in the real estate space to buy at, you know, high volume to get great discounts. Mm. So that is a signal I think, to everyone else, it's like be patient, keep some powder, dry, do your due diligence and also understand risk mitigation. Understand it. So without further ado, when we wanna talk about what is risk mitigation and what can we do about that? I want to bring on Rob Napolitano. He's a friend of ours and he has been working in the NPL space, which is the non-performing loan space, the insurance space, you know, gosh, pretty much everything that has to do with, with real estate. So I wanna go ahead and bring Rob on, Rob Napolitano 00:05:10 Hey guys. Thanks Wendy. Jonathan. Thanks for having me. I really appreciate the, the time we're spending together today. Jonathan Davis 00:05:18 Absolutely. No, we appreciate you being on. Yeah, Wendy Sweet 00:05:22 Billy's listening. So we can't make fun of him. We highly respect him. We love him. He's my brother. I have to love him. Rob Napolitano 00:05:31 What, what are the...

Bill Fairman 00:00:02 Are continuing doing our of wall street versus real real estate. And we got a great Bill Fairman 00:00:23 Greetings it's bill it's bill and it's Jonathan and we are our Carolina management. Welcome so much to the what show again, the real estate, the real estate investor show char money for real estate investors, investors, Carolina, capital management. Once again, we are private lenders for real, for real estate professional, no east. If you have a, our project, rather that if you'd like USD like us to take Carolina hard money.com.com, click apply. Now tab. If, if you are a passive investor looking for passive returns, click on the credited and credited investor tab, don't forget to like share some, share, subscribe the bell. And, and don't forget about Wendy's with Wendy. Wow. That's new graphics. I like this because, because they always keep us on our, secondly, we devotes 30 minutes of her time per person, each Wednesday day that anything real estate related, there's a, there's a there to get on her calendar. She's usually a couple of months in advance. So good book now. And I'll talk about the upend upend coming expo. Bill Fairman 00:02:00 So it on the 20, the 25th, I believe no 23rd through the 25th, 5th of September. And the note speaker is Emett very cool. I've cool. I've got, got a chance before Emmett real estate entrepreneur after football. So he's got the really interesting story story. So you can get there. We have a code to get the percent off it's Fairman Fairman it will be over in the comment set comment section, from what I understand, stand our audio really freaking out. So out. So IMing on Chris really quick, because, because I don't have a better voice than, than the rest of rest of us. Yeah. He's not having, he's not having the technical days that we are having Chris miles with, with moneys. The what, what is your title? The anti, I think you're muted though. Let's let's let you, Chris Miles 00:03:11 Am I anti anti Financianal advisor? Right? Bill Fairman 00:03:13 Anti financial advisor. I, I don't know why I keep that, but, but welcome to the show went on again and I, I apologize for our audio. Chris Miles 00:03:23 No problem. It's issues. It's kinda like it's kinda listening to Max's headroom. You know, if you remember him from the 1980s, like Matt Max's headroom, you know, it's kinda like that. So it's kinda cool actually. Bill Fairman 00:03:34 Oh man. You back some not so fun memory, but I did love, ah, okay. So our theme this month been about being able to build able to build what in real, versus getting rich in the stock market, right? Jonathan Davis 00:03:58 Yeah. Yeah. The, the, the premise is what, what builds more wealth than when we say wealth, generational wealth, Bill Fairman 00:04:06 Cash flow, Jonathan Davis 00:04:06 Cash flow, everything. I mean like, like when, before it was, was, you know, you know, risk, you know, like, like the risk mitigation side of it, like you thought of it, like, you can get rich really quick in the stock market, but you can also lose, lose who's really stock market and knowing how to play that at whereas real estate, it's more of a long, long marathon and you know, marathon's appropriate I guess, for Chris, but, but Bill Fairman 00:04:37 Yeah, cuz he is running these marathons. All right, we're gonna stop and, and let you say something, but first of all, talk a bit about your story where you started and what you're doing and what you're doing now. Chris Miles 00:04:49 Yeah. You know, I, I started not learning about money, right? I was, I was raised by great parents. You know, it taught me good values, but the one thing they really didn't know a lot about was money. And, and when it did come to money, it was usually about scarcity. Right. I remember sitting around the table and you know, although my dad would say, Hey, you can be anything you wanna be right. But then he would also say,...

Bill Fairman 00:00:02 Hi everyone. We are continuing this theme of how to build wealth, whether it's in the stock market or real estate. And we've got a wonderful guest right after this, Bill Fairman 00:00:37 Your eatings, once again, from the, I wanna say it's the capital of South Carolina, but it really isn't. It is not. No, yeah, we're just on top of the hill here. That's rock hill, South Carolina. Thank you so much for joining us on the real estate investors show hard money for real estate investors. We are Carolina capital management. We are private lenders and the Southeast for real estate professionals. If you're interested in having us look at one of your projects, go to Carolina, hard money.com and click on the apply out tab. If you're a passive investor, looking for passive returns, go to our accredited investor tab and click it on and get all the fine info there. Don't forget the like share subscribe, hit the bell. And don't forget about Wednesdays with Wendy when Wendy dedicates 30 minutes per person on Wednesdays to talk about anything real estate for free, even though it's free, it's it has value. Jonathan Davis 00:01:49 Oh, it's extremely valuable. Now, Bill Fairman 00:01:51 Especially if you're talking real estate, now you can talk anything you want, but you wouldn't be wasting your time if you didn't talk about real estate. So if she's usually booked out a couple of months in advance, there's the link to get on her calendar. And it's also in the chat section, which depending on the platform that you're viewing us from, it's either gonna be on the right hand set of your screen or underneath. Jonathan Davis 00:02:13 Yeah. Bill Fairman 00:02:14 Welcome. Jonathan Davis 00:02:15 Welcome. And on this show, we're excited. We have Dean Rogers with us. Former NFL player turned real estate investor. It's it's gonna be a great show and we're gonna kind of, you know, pick his brain on how to build wealth and you know what he's experienced over, over his tenure in, in investing before we get to that though, do you have any breaking news or Bill Fairman 00:02:39 Actually, I don't know if it's breaking news, but the president signed the bill that supposed to be lowering inflation, if not. So that was kind of anti-climatic. Yeah, Jonathan Davis 00:03:06 Well, you know, to, to build on that inflation is down in July from June from 9.1 to 8.5, right? It's flat month over month, I guess is the best way to describe that rents are still rising in a lot of metros. We are seeing decline in, in some, you know, namely Miami we're seeing the highest rent climbs in, well, Raleigh's in the top three, Bill Fairman 00:03:34 By the way, average median rent nationwide for the first time hit $2,000 a month. Jonathan Davis 00:03:43 Wow. Yep. Still going up, man. Yeah. So yeah. All that I think, yeah. I said for all these number three, I think San Francisco is number one, but I think they were hit the hardest. So, I mean, you expect the one that dropped the most would have the yeah. Hopefully have the highest appreciation. So yeah. Other than that, millennials now make up 43% of all home purchases in 2022. Bill Fairman 00:04:10 Good. Jonathan Davis 00:04:10 Look at that. Look at Bill Fairman 00:04:11 Them, go they're the largest population. They should be climbing even higher. Jonathan Davis 00:04:16 Yep. Absolutely. Well, without further ado, I guess we need to bring on our guests and we talk about building wealth. Bill Fairman 00:04:22 Yeah. So before I bring him on, you know, Dean played in the NFL with San Diego chargers, I, I don't know why he would've left other than what most people leave for worried about your, your health because your body is being brutalized in the NFL. Yeah. But he was, I'm not sure if he still lives there or not. And we will ask, but San Diego it's like room temperature all the time. Jonathan Davis 00:04:48 Yep. Bill...

Bill Fairman 00:00:01 Hi everyone. Bill Wendy and Jonathan here. We're gonna talk about rich dad. Poor dad. Who's your daddy. Once again, greetings. Thank you so much for joining us on the real estate investor show hard money for real estate investors. We are Carolina capital management lenders in the Southeast for real estate professionals. If you would like us to take a look at one of your projects, please go to Carolina, hard money.com and click on the apply. Now tab, if you're a passive investor, looking for passive returns, go to the accredited investor tab and Wendy Sweet 00:00:59 Send us some money. Bill Fairman 00:01:00 That's right. Don't forget to like share most importantly subscribe, and then you can hit a bell too. If there's one available Wednesdays with Wendy it's. So unlike me to be so busy talking, I forget about Wendy Sweet 00:01:26 The grand page. Yeah. Bill Fairman 00:01:28 Anyway, Wednesday with Wendy is a volunteer thing that Wendy does to donate her time to anybody who wants to talk about real estate. She gives everyone 30 minutes, but get on the list, her calendar she's booked out all the time. Wendy Sweet 00:01:47 Not all the time. Jonathan Davis 00:01:47 All there's times available. Wendy Sweet 00:01:49 Yeah. Bill Fairman 00:01:51 Get it while it's high. Wendy Sweet 00:01:52 Yeah, that's right. Bill Fairman 00:01:53 Am I leaving anything out? Quest expo? Wendy Sweet 00:01:56 Yeah, that's coming. Jonathan Davis 00:01:59 There's a graphic for that. Bill Fairman 00:02:14 It's coming up soon. Anyway. It is a great opportunity to meet like-minded people. You can get a 30% discount by using Fairman 30 and it's September the 23rd through the 25th. I highly recommend it. Wendy Sweet 00:02:30 Great networking opportunity. Absolutely great opportunity to learn about all the different opportunities to invest your money. Yep. Right? Absolutely. There's a lot of stuff. Bill Fairman 00:02:41 So do we have a, a question of the week by the week? Jonathan Davis 00:02:45 Yeah. So the question of the week, and we'll, we'll follow it up later in the show as well, but in your opinion, you know, what is the difference between being rich and being wealthy? Hmm. And, you know, kind of a, you know, a caveat off of that is what are some strategies that you employ to build wealth now we'd, we'd love to talk about those next week. So anyone that puts it in the comments, we will be discussing it. And Wendy Sweet 00:03:14 We'll actually be talking about that over the next few weeks. So yeah, there's, we've got a lot of great speakers and, and topics lined up to where we're really addressing building wealth versus getting rich because there's a big difference in the two and, and rich dad, poor dad is what came to mind when, when we were coming up with this and yep, absolutely great book. If you haven't read it and you've been living under a rock, if you haven't, but it's, it's a great book. Rich dad, poor dad by I think that's key. Bill Fairman 00:03:49 So for breaking Jonathan Davis 00:03:52 The news, Bill Fairman 00:03:53 Breaking news, Wendy Sweet 00:04:06 When was the last time your home was rated? Bill Fairman 00:04:10 Last time I used bug spray. Yeah, Wendy Sweet 00:04:13 That's good. Bill Fairman 00:04:14 So the producer price index came out today for the month of July. That's basically what manufacturers pay for their goods before they're manufactured and then passed on to the consumer. It was slightly below what expectations were. But when you strip out food and energy, food is way up there. Yeah. Energy dropped and we all know that gas prices oil came down. Wendy Sweet 00:04:48 Not much. We're still above where we should be. Bill Fairman 00:04:50 Right? No, I get that. Yeah. But the point to this is that it's still into 9%, almost. It was 9.8%. They were expecting 10 something. So it's still...

Bill Fairman 00:00:03 Greetings folks. So, you know, we love self storage. We love 'em so much. We ended up buying some. So in this episode, we're gonna talk about lessons learned right after this. Thank you for joining us on the real estate and investors show hard money for real estate investors. We are Carolina capital management, private lenders for real estate professionals. So if you're looking for us to take a look at one of your projects, go to Carolina, hard money.com. Click on apply. Now, if you're a passive investor looking for passive returns, click on the accredited investor tab, and don't forget to like share subscribe, hit the bell. And don't forget about Wednesdays with Wendy is just a shadow of herself. Apparently our lights are not focused in properly, but Wendy does, excuse me, 30 minutes per person on Wednesdays. Anything you wanna talk about real estate. She donates her time to do this. So sign up on this link and we have one over in the chat, which by the way, we have a chat, it's either gonna be on the right side of your screen or underneath, depending on the platform that you're viewing us from. So if you wanna leave any comments, nasty or not can put 'em there, Jonathan Davis 00:02:02 You know, bill, this is the most excited I've seen you in a lot. Yeah. Bill Fairman 00:02:05 I'm getting ready to leave. Wendy Sweet 00:02:06 Or I thought maybe it was cuz I was back. Yeah, Bill Fairman 00:02:08 That Wendy Sweet 00:02:08 Too. We had some great calls on Wednesday yesterday too. Wow. Five excellent, excellent calls. I just, I'm always amazed at the different topics and just really, really good stuff. Really good Bill Fairman 00:02:23 Stuff. That would be a good way to take a couple of questions and then we can yeah. Do 'em here on the show and answer them. You don't have to say who asked them, but yeah, it might be good topics for, Wendy Sweet 00:02:35 Well, I'm actually putting together a book from them that we'll talk about just all the different topics, cuz it's just so vast. It's, it's amazing all the, all the options in real estate. In fact, we talked about that yesterday. I, I don't remember which one I was talking to, but that, you know, you get into real estate and you think that it's, you know, fix and flip, right. You know, that's what you think it is. But my goodness, everything gets really broken down into a multitude of different options. And then when you choose that option, there's a multitude of different options for that. Right. You know, the layers are, are definitely, it just goes on and on doesn't it it's depending Bill Fairman 00:03:14 On market timing, there's all kind of different ways to, Wendy Sweet 00:03:18 And that's the key. My bro is figuring out what's going on. My green bro. That's and he is green today, but it's, it's, that's the key is really figuring out what's going on around you. And what can you do to go into that toolbox and use? What's gonna work for what's happening in that market. Bill Fairman 00:03:41 Neat keeps real estate so interesting is exciting, constantly changing and evolving, but you know what? It's still the same. It's all that's right about the numbers. It's just different ways of tackling it based on different right Wendy Sweet 00:03:54 Markets, basically the same, that's the Jonathan Davis 00:03:56 Similar conversation that we, we had, I think at the last employee luncheon learn or whatever that we had talking about, you were saying the market is cyclical and you know, it's just all these things. And while that's true, the things that throw it, the occurrences that throw it back into that cyclical motion are never the same, Wendy Sweet 00:04:18 Right? Like Jonathan Davis 00:04:19 So good point. It, it keeps happening, but it's never the same thing that, that Wendy Sweet 00:04:23 Pushes it over there. Trigger pushes Jonathan Davis 00:04:24 It back. So that's the exciting...

Bill Fairman 00:00:02 Welcome everyone. I'm supposed to do a short tease. So already off to that start, we'll be ranked back after this. Bill Fairman 00:00:32 Wow. And they told me there were no new graphics. Thank you. That was pretty interesting. Wasn't it? That was good. Yeah. All right. Well, thank you so much for joining us on the real estate investor show. What is it? Hard money for real estate investors. It's right there. Yeah. We are Carolina capital management, private lenders for real estate professionals in the Southeast. If you are a real estate investor and you would like us to take a look at one of your deals, go to Carolina, hard money.com. Click on applying. Now, if you're an accredited investor, looking for passive returns, click on the accredited investor tab, don't forget to like share subscribe, hit the bell. And definitely don't forget about signing up for Wednesdays with Wendy, Bill Fairman 00:01:28 As you know, Wendy devotes, 30 minutes per person on Wednesday afternoons, not this month, cuz she's on vacation to talk about anything real estate related. She's usually booked out a couple months in advance. So grab a spot. There's a link to her calendar and we will leave it over in the comment section which we have on the left side of the screen or underneath, depending on the platform you're viewing us from. We are excited today. We have Brian Maddox of Ameri first, first mortgage. He is an expert in the conforming and investment mortgage business. And I wanted to bring him in to have some discussions, Jonathan Davis, to my side. And like I said, Wendy is still vacationing. Of course it's not the vacation she was expecting towards the end as she ruined her transmission carrying around that RV. It's so listen, let's get started with some breaking news. All right. So if you see sweat dripping off of us, yes, it is summer. For what? Whatever reason. It's really stuffy in this room today. Hey Sue. Jonathan Davis 00:03:00 Thank you Susan. Bill Fairman 00:03:03 So breaking news yesterday, the fed announced another 75 basins point hike in their rate. That was not unexpected. Jonathan Davis 00:03:13 The good news is it was already priced in to most lenders. Yeah. Right. Bill Fairman 00:03:17 And, and investors liked it because of the language he used after he announced it. They're basically want doing a wait and see kind of an attitude, right? Jonathan Davis 00:03:26 Yeah. They anticipate they're at the top of the interest rate hike. Bill Fairman 00:03:31 They said they're gonna be data sensitive Jonathan Davis 00:03:34 Data Bill Fairman 00:03:35 Sensitive. They're gonna trust the science Jonathan Davis 00:03:36 Trust. The science man. I've heard that somewhere too. Before. I can't Bill Fairman 00:03:39 Remember where the other news we are technically in a recession officially, unless you've changed the language that we've always had today, the GDP was 0.93. What is it? Retraction subtraction. We were below par. Yeah. By 0.9, 3%. Again that wasn't unexpected either. We all know we're essentially in a recession right now. Job. Market's still good. Yes. Right? Jonathan Davis 00:04:18 Yep. And that's that that's leading to the, the kind of wait and see model is the, the jobs are saying strong right now that they feel like, okay, well maybe we can pause adding more. Right. Hikes down the way to see because cuz we do have such a strong job market. Bill Fairman 00:04:36 And in, in a few minutes we're actually gonna let Brian talk. We doesn't have to just sit here and smile. He Jonathan Davis 00:04:41 Will. Well, we're wait. He has the really interesting stuff. I'm just, this is just commentary. Bill Fairman 00:04:47 Now the job market is gonna be a little bit tough in the mortgage business and I'm gonna read off some stuff. I, I typically don't like just reading off a prompter, but I have a lot here to cover. So experts are forecasting, a...